Quote:
Originally Posted by Brucernelson
Thanks everyone for your input. My wife and I were formerly boring, conservative accountants so I think we are going to step back a bit. We have a nice home in RI and the courtyard villa in Phillips Villas. I think if we are going to continue to be 50/50 at each location, then what we have now is fine. If we decide The Villages should be our full-time home, then it will be time to sell both RI and Phillips which will allow us to get a really nice place down here without any bridge loans, fees, equity loans, or financial struggle. Now I just need to convince the wife that we don’t need to see our kids and grandkids very often. Looks like it will continue to be 50/50.
See you in a few weeks B-flat.
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We bought in the Villages before selling our previous home.
Several reasons-First it takes my wife forever to make a DECISION. We had looked at the villages four times. I declared or get off the pot.
You state you and your wife are accountants. Few people realize or perhaps face what it costs them to keep a home
that they are not living in. In our case, our home was paid in full years before we sold it. In round numbers it was worth about 350. Assuming a stock market return of 8% has done far better than that over the past ten years or so. 350,000 x ,08=28,000. We had 10,000 in real estate tax +10,000. We had heating expense ???? 1800. Lawn would still need to be mowed etc ????? 1,000. We had DENNIS THE MENACE as our next door neighbor. They were FAMOUS or perhaps INFAMOUS in the school system. Hassle factor ????????? My FUZZY MATH point yearly cost to keep our previous home 28,000+10,000+1800+1,000 PLUS VALUE OF HASSLE=ABOUT 41,000 PER YEAR TO KEEP IT.
THE PRICE IS GOING UP. That argument makes NO SENSE at all on either end for us. Yes, the prices are going up in the Villages. The home we sold was and is still going up as well. According to Zillow, the rate of increase is a bit higher in the Villages than in our old area BUT, in my mind
the difference is insignificant.
Experience selling our previous home. My view is probably different than most. I worked as a salesman and have written orders up to 14 million-no it was not my 14 million-the 350,000 was mine. Your MEMORIES attached to your home HAVE NO VALUE TO THE BUYER. Your need to be able to FORCE YOURSELF TO look at your former property and see it as a competing product in competition with other PRODUCTS being offered. What you paid for it. What is still unpaid on the mortgage. What you need to get out of it to buy your dream place-HAS NOTHING WHAT SO EVER TO DO WITH WHAT IT CAN BE SOLD FOR.
As stated, we bought first forcing myself and my wife to go into ACTION. Priced CORRECTLY, our previously owned home sold faster than we/I had planned. Our place sold in only TWO WEEKS. We got a full price CASH offer from people who had just sold their place. We had another offer behind the one we accepted but that one with a mortgage.
Selling your home is spooky. We were lucky-OR PERHAPS PLANED IT RIGHT.
MY OWN SISTER-committed to buy a home. Tied the people up for months and then could not get a mortgage.
She had nice things to say about the sellers. My sister got all of her money back except for her atty fees. My sister was not happy that I told her she had screwed the seller-NOT THE OTHER WAY AROUND.